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Millennium Minerals Completes Share Consolidation

Millennium Minerals (ASX: MOY) has successfully completed its 1 for 22 share consolidation, reducing the number of shares on to about 198.8 million.

Deferred settlement trading under the ticker MOYDA ends on 8 August 2013 and normal trading will commence on 9 August 2013. Shares in the company will begin trading at a post-consolidation price of $0.305 today.

It also reduced the number of unlisted options to 1,136,364 options exercisable at $0.75 expiring 31 December 2014.

The company had said the consolidation was a logical step following its transition to producer from explorer.

It poured its first gold in September 2012 from the Nullagine Gold Project, and since then the company has continued to increase output with production of 16,441 fine ounces of gold and EBITDA of $12.1 million during the June 2013 quarter.

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